Berlusconi sentenced to year in jail for tax fraud

‘INCREDIBLE AND INTOLERABLE’:The former Italian PM was found to have inflated prices paid for distribution rights and created foreign slush funds to avoid paying taxes

AFP, ROME

The sex trial was one of the last in a series of scandals that helped precipitate Berlusconi’s downfall in November last year, which was finally triggered by a parliamentary revolt against him and a wave of panic on financial markets.

Berlusconi, who owns AC Milan football club, three national TV channels and several private villas, has frequently accused “leftist” prosecutors, notably in Milan, of plotting against him.

He said on Wednesday he would not run in elections early next year and would hand his People of Freedom (PDL) party over to a successor, ending months of uncertainty over his candidacy.